Nigeria’s stock market sustains growth with 0.22%

Trading floor of the Nigerian Stock Exchange.

The Nigerian Stock Exchange (NSE) market indicators on Tuesday sustained growth for the second trading day, growing by 0.22 percent.

The market capitalization rose by N34 billion or 0.22 percent to close at N15.666 trillion compared with N15.632 trillion achieved on Monday.

Also, the All-Share Index which opened at 43,513.93 inched 95.84 points or 0.22 percent to close at 43,609.77 following Seplat gain.

A breakdown of the price movement table indicated that Seplat for the second day running, led the gainers’ table, gaining N25 to close at N785 per share.

Unilever followed with a gain of N5.50 to close at N59.60, while Flour Mills garnered N1.55 to close at N34.60 per share.

Dangote Sugar Refinery advanced by N1.05 to close at N22.50, while NASCON increased by 70k to close at N24.50 per share.

Conversely, Nestle topped the laggards’ chart, shedding N20 to close at N1,380 per share.

Total trailed with a loss of N4 to close at N250, while Guaranty Trust Bank declined by 85k to close at N48.50 per share.

Access Bank was down by 30k to close at N13.15, while Vitafoam lost 14k to close at N2.85 per share.

The volume of shares transacted rose by 76.75 percent with an exchange of 445.50 million shares valued at N5.96 billion in 5,078 deals.

This was in contrast with a turnover of 252.05 million shares worth N5.75 billion traded in 4,270 deals on Monday.

The banking stocks dominated the activity chart with Sterling Bank emerging as the toast of investors, exchanging 101.91 million shares worth N191.59 million.

Fidelity Bank followed with a total of 49.22 million shares valued at N147.66 million, while Zenith International Bank traded 37.85 million shares worth N1.18 billion.

FBN Holdings sold 34.36 million shares valued at N393.94 million, while GT Bank exchanged 30.99 million shares worth N1.50 billion.

Amaka E. Nliam